Charoen Pokphand Foods Public Company Limited (CPF) operates an integrated agro-industrial and food business. With the goal of creating food security under the vision of being the "Kitchen of the World" with sustainable growth, it has production bases through investments and joint ventures in 17 countries worldwide. The company is committed to developing and delivering nutritious and palatable products to consumers. With production processes and operations that maintain a balance between economic success and creating shared value with all stakeholders based on good corporate governance.
| 2025 | 2024 | 2023 | 2022 |
|---|
| Revenues | 575,878.87 | 585,467.81 | 590,786.78 | 619,017.57 |
| Expenses | 525,055.78 | 548,763.16 | 581,427.31 | 587,800.74 |
| Net Profit (Loss) | 25,197.49 | 19,558.13 | -5,207.35 | 13,969.55 |
| Assets | 861,796.08 | 876,723.93 | 887,217.85 | 926,987.18 |
| Liabilities | 609,936.60 | 583,500.39 | 602,184.76 | 627,143.64 |
| Shareholders' Equity | 232,751.53 | 246,040.67 | 239,416.23 | 256,052.65 |
| Operating | 71,565.43 | 65,140.04 | 35,360.10 | 33,543.50 |
| Investing | -9,549.65 | -14,492.72 | -19,616.02 | -25,723.28 |
| Financing | -61,834.35 | -50,289.01 | -19,282.47 | -12,858.25 |
| EPS (Baht) | 3.12 | 2.39 | -0.75 | 1.69 |
| GP Margin (%) | 16.93 | 14.64 | 10.45 | 13.33 |
| NP Margin (%) | 4.97 | 3.81 | -0.43 | 2.33 |
| D/E Ratio (x) | 2.42 | 1.99 | 2.11 | 2.09 |
| ROE (%) | 10.53 | 8.06 | -2.10 | 5.93 |
| ROA (%) | 7.06 | 5.96 | 2.60 | 4.61 |
The Company has established a globalization strategy by leveraging its expertise in a fully integrated agricultural business model to invest in various countries. Simultaneously, the company employs a value-added business strategy by enhancing nutritional value for consumers, responding to evolving consumer behavior, and developing and expanding distribution channels to ensure widespread product accessibility. Furthermore, the company's strategy includes fostering innovation for operational efficiency and utilizing digital transformation to maintain competitive costs, thereby elevating its competitiveness to the forefront of the industry. In addition, the company prioritizes sustainable operations, balancing economic success with value creation for all stakeholders, including the responsible utilization of resources, under the philosophy of sufficiency economy and the Charoen Pokphand Group's 3-Benefit Sustainability Philosophy, which aims to create benefits for the country, the people, and the company, based on good corporate governance.
For further Information can be found in the company's 2024 Sustainability Report
CPF's integrated agro-industrial and food business can be categorized by product type into 3 categories: 1) Feed business, including the production and distribution of animal feed; 2) Farm-Processing business, including animal breeding, commercial livestock farming, and basic meat processing; and 3) Food business, including the production of semi-cooked and cooked processed meats, and the production of ready-to-eat meals, as well as the restaurant business.
In the year of 2025, the Company reported a net profit attributable to the Company of THB 25,197 million, representing an increase of 29% compared to THB 19,558 million in 2024. The main reasons for this improvement are as follows:
1. The Company reported sales revenue of THB 571,135 million, reflecting a 2% decrease compared to the previous year, due to the appreciation of the Thai Baht. Excluding the mentioned impact, sales revenue would have increased by 3% from the previous year.
The sales revenue comprised 62% from international operations and 38% from Thailand operations (consisted of 33% from Thailand domestic operations and 5% from Thailand export operations)
2. Gross profit was THB 99,665 million, an increase of 14% from the previous year. The gross profit margin improved from 14.6% in 2024 to 16.9% in 2025, driven by the following factors:
2.1 Improved production cost efficiency and a decline in global soybean meal prices compared to the previous year, driven by an oversupply from major producing countries (Brazil and the United States) amid China’s slowing economy and weaker import demand.
2.2 Maintaining high standards of hygiene and safety in production, along with strict disease prevention measures, helped reduce loss risks and enhance production efficiency.
2.3 Swine prices in the region were higher on average compared to the previous year, particularly during the first half of 2025, due to a reduction in market supply.
- Chia Tai Bio-Tech (Beijing) Co. Ltd. , an indirect subsidiary of CPF, invested in 60.00% of the paid-up capital of Wuhan Huateng Jikang Bio-Tech Co., Ltd., which operates a business manufacturing and distributing animal diagnostic equipment in the People's Republic of China.
- CPF in collaboration with COTTO, has signed a Memorandum of Understanding (MOU) to drive the innovative use of industrial by-products from the food manufacturing process—namely eggshells-toward the development of environmentally friendly sanitary ware.
- CPF with National Hanwoo Association (Korea) and Reborn Agency Inc., are in collaboration to elevate the feed industry with premium grade silage corn for global standards.
More information can be found in the company's 2024 Annual Report (Form 56-1 One Report).
(https://www.cpfworldwide.com/th/investors/report-56-1)
- CAC Change Agent Award 2025 from the Thai Institute of Directors Association (Thai IOD) for 5th consecutive years.
- Outstanding Organization for Promoting Employment of Persons with Disabilities Award 2025 from the Ministry of Social Development and Human Security for 9th consecutive year.
- SEA MIKE Award 2025, Gold Level, from Southeast Asia Most Innovative Knowledge Enterprise for the 2nd consecutive year, reflecting leadership in “Knowledge Management” and the practical application of innovation, creating positive outcomes for the economy, society, and environment.
| as of 30/12/25 | CPF | FOOD | SET |
|---|---|---|---|
| P/E (X) | 6.30 | 9.66 | 15.44 |
| P/BV (X) | 0.75 | 1.19 | 1.19 |
| Dividend yield (%) | 4.62 | 5.19 | 3.71 |
| 30/12/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 183,271.78 | 191,829.36 | 164,905.94 |
| Price (B/Share) | 21.80 | 22.80 | 19.60 |
| P/E (X) | 6.30 | 12.12 | - |
| P/BV (X) | 0.75 | 0.78 | 0.68 |
